EOG Resources said operating revenues for Q1 2024 rose $79 million (1%) from $6,044 million a year earlier, to $6,123 million. It said wellhead revenues increased $186 million (4%) to $4,375 million.

1. 01

   EOG Resources said operating revenues for Q1 2024 rose $79 million (1%) from $6,044 million a year earlier, to $6,123 million. It said wellhead revenues increased $186 million (4%) to $4,375 million.

2. 02

   The company said wellhead crude oil and condensate revenues for Q1 2024 rose 9% to $3,480 million, NGL revenues rose 5% to $513 million, and natural gas revenues fell 26% to $382 million. It said its composite wellhead natural gas price fell 36% to $2.26 per Mcf.

3. 03

   EOG Resources said its debt-to-total capitalization ratio was 12% as of March 31, 2024, and it had $5.3 billion in cash and cash equivalents. It said it repurchased 6.4 million shares for about $750 million in Q1 2024, and about $3.3 billion remained available under its share repurchase authorization as of November 2021.

4. 04

   The company said its total capital expenditures for 2024 are estimated to range from about $6.0 billion to $6.4 billion, excluding acquisitions, non-cash transactions and exploration costs. It said exploration and development expenditures for Q1 2024 were $1,581 million, up $193 million from the same period a year earlier.

Key figures

Quarter ended March 31, 2024

Revenue

$6.1B

Operating income

$2.3B

Net income

$1.8B

EPS

$3.10

Operating cash flow

$2.9B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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